Market Review –
A rise in monthly home loan data shows borrowers are beginning to take advantage of interest rate cuts. Home loans grew 0.9% in September and 1.8% in August. This is positive news for the housing market which has seen an increase in activity in recent weeks. Ray White nationally is reporting that the number of sales across the franchise is now rivalling sales in the 2006-2007 property market high.
Locally, we have seen a rush on property in the lead up to Christmas, with inspection rates high and property sales high. In October we sold 15 properties, that is one every 2 days for the month, November has also been very encouraging. With a further 0.25% rate cut on the 4th December we are confident of continued high inspection rates and buyer activity through December.
If you would like a more detailed report on the local property market call the office on 02 4787 8797 or e-mail jessica.ridder@raywhite.com and request a free Suburb Snapshot.
We would also like to take this opportunity to wish you and your families a safe and happy Christmas and holiday period. It’s a pleasure to service our community and we look forward to a bright 2013.
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